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of <h1>SEBI Updates Base Minimum Capital Rules for Brokers: New Requirements Based on Trading Profiles Effective March 2013.</h1> The Securities and Exchange Board of India (SEBI) has revised the Base Minimum Capital (BMC) requirements for stock brokers and trading members, effective by March 31, 2013. The BMC is a non-exposure deposit meant to cover non-market risks. The new requirements vary based on trading profiles: Rs. 10 Lacs for proprietary trading without algorithms, Rs. 15 Lacs for client-only trading without algorithms, Rs. 25 Lacs for combined proprietary and client trading without algorithms, and Rs. 50 Lacs for any trading involving algorithms. For exchanges without nationwide terminals, the requirement is 40% of these amounts. At least 50% of the deposit must be in cash or equivalents.
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